market power. Two main results are shown. First, in the presence of buyer power trade liberalization may lead to retail … market concentration. Due to this concentration retail prices may be higher and welfare may be lower in free trade than in … autarky, thus reversing the standard effects of trade liberalization. Second, the pro-competitive effects of trade …

market power. Two main results are shown. First, in the presence of buyer power trade liberalization may lead to retail … market concentration. Due to this concentration retail prices may be higher and welfare may be lower in free trade than in … autarky, thus reversing the standard effects of trade liberalization. Second, the pro-competitive effects of trade …

-North intermediate goods trade framework. International product market integration leads to redistribution of market shares from 'weak … restrictions which prevent the economy from reaching a first best allocation. The positive welfare effects of opening to trade are … integration. -- employment protection ; firing margin ; trade in intermediate goods ; labor market turnover ; revenue risk …